My husband and I recently sold our home, basically saving us from foreclosure. Little background, my husband got sick and was hospitalized which caused us to get behind on payments. We sold our home with little profit to avoid a foreclosure but wanted to purchase another home. We have 20k to put down on a 265,000.00 home that is valued at 325,000.00. No one wil finance us. How can we get hooked up with some private investors that will hold mortgage for a year while we stabalized ourselves again and we would be able to get refinanced? Any suggestions??
I have some in house porogram that might work for you. If you will like feel free to give me a call any time. I also deal with over 250 lenders. Give me a call and we can go over some of your options.
How many payments where you late on?
well we were initally late on 4 payments and then we filed for a chapter 13 to reorganize…with a lawyer who was pretty much use less he never told us to resume payments…when we didn’t the lawyer and the mortgage company came up with a plan to make monthly payments of almost 3 grand a month which we couldn’t afford so by the time the foreclosure paperwork went through it was almost 9 months of no payments. We sold the home before they foreclosed on it
They might be able to help…Looks like your going to need to:
A. Have some seller financing
B. Look at something in a lower price range.
what is your credit look like? i can get 75 ltv as lond as your score is not lower then 540.
ON 1//11 THE FAIR ISAAC SCORE WAS 546
BEACON WAS 626 AND EMPIRICA WAS 542
what about your husbands? what does the income look like?
let us know a little bit more info.
Also the intrest rate is not going to be pretty!!
That was my husbands scores, mine is similar to his…
we have a 97 chevy truck that’s paid for and also a 2005 polaris sportman 500 atv that’s paid for also… income is about 57 thousand a year combined…we own nothing but a loan on my truck which is 167.00 a month about 5200.00 left on it and payments have been made on time in the whole year that we’ve had the loan
you will only get qulified for 200,000 to0 225,000.
What state are you in
With all due respect sounds like you need to rent for a year or to to get resituated and then try again.